Post by
snowshoedb on Nov 02, 2023 8:00am
PP - 3 million - 19% dilution and warrants
Obviously the company has struggling to raise money. This placement qill help them get a new MRE out. While they may outline 6+ million ounces. it sounds like leaching is the only alternative for gold recovery because gold grains are 20 um which is the lowest range for centrafugal recovery. Affinity to pyrite and the hardness of the rock (quarts & plagioclase) requires substantial crushing.
I fear that we might see a significant drip in the stock over the next 6 months (20%-30%). I still see no timeline for development, no mine plan. Tremendously dissapointing. When Brett took on the exploration/development he had lofty goals.... now it appears the project is driffting with no one championing a bold path forward. Wesdome is stepping back and giving up its seat on the board. This is negative news in my opinion... the project looks like it will become an abandond orphan.
Goldshore staked some new unexplored land proximal to the current deposit. No field work is expected until 2025.
Kind of like saying, hey look at this new shiny thing "Hilcrest Project" (Aug 10 NR)... maybe its better than the other old tired tarnished thing (Moss deposit).
I'm afraid we are watch Goldshore wither and die... to be sold to the next sucker with new money in his pocket to burn.
Terribly disappointed with this turn of events.